Welcome to our dedicated page for Millicom International Cellular S.A. news (Ticker: TIGO), a resource for investors and traders seeking the latest updates and insights on Millicom International Cellular S.A. stock.
Millicom International Cellular S.A. (TIGO) is a prominent telecommunications company based in Luxembourg, specializing in providing fixed line and mobile services. Operating under the Tigo brand, Millicom has a significant presence in emerging markets across Latin America. The company delivers a range of telecom services including wireless and fixed-line solutions in countries such as Bolivia, Nicaragua, Panama, El Salvador, Guatemala, Paraguay, Colombia, Costa Rica, and Honduras. Notably, Millicom owns 100% of its operations in most of these countries, with a 50% stake in Colombia and 67% in Honduras.
Millicom's robust infrastructure supports comprehensive telecommunications services for millions. Its fixed-line networks reach approximately 13 million homes, while its wireless networks cover about 120 million people. The company is known for providing converged packages that can include fixed-line phone services, broadband, and pay television, along with its wireless offerings. This integrated approach allows Millicom to meet diverse consumer needs in less developed regions.
In 2024, Millicom plans to carve out its infrastructure assets and mobile financial services business, aiming to optimize its operations and enhance shareholder value. The company's focus on emerging markets and its strategic initiatives reflect its commitment to growth and adaptation in a rapidly evolving industry.
Recent developments include a share repurchase activity, which indicates the company’s confidence in its financial health and future prospects. This move is expected to provide value to shareholders and demonstrates Millicom’s proactive approach to managing its equity base.
Millicom’s financial performance and strategic initiatives are continually tracked and updated through various channels, ensuring stakeholders have access to the latest information on the company’s performance and market activities.
IDB Invest is backing Tigo Colombia with a guarantee line of up to COP625,000 million to enhance digital connectivity in Colombia. This initiative aims to improve mobile broadband access in 177 localities and upgrade services in 340 municipalities. With a tenor of up to two years for issued letters of credit, the project supports vulnerable sectors, and aligns with the UN Sustainable Development Goals. Tigo is committed to complying with an Environmental and Social Action Plan, enhancing operational practices and facilitating connectivity for rural populations.
Millicom (Tigo) will host an investor day on February 14, 2022, in Miami, Florida. This event will accommodate both virtual and in-person attendance due to COVID restrictions. Details on the program and participation will be shared closer to the event date. Millicom, a leading provider of both fixed and mobile services in emerging markets, caters to approximately 55 million customers across Latin America and Africa. For inquiries, contact investor relations professionals at Millicom.
Millicom International Cellular S.A. convenes an extraordinary general meeting (EGM) for shareholders on January 24, 2022, at 4:00 PM CET. The meeting will address key agenda items, including an increase in authorized share capital from USD 199.99 million to USD 300 million to facilitate a rights offering linked to the acquisition of Tigo Guatemala. Shareholders are advised to vote by proxy due to COVID-19 precautions. Important deadlines include January 3 for proposing additional agenda items and January 19 for submitting proxies.
Millicom International Cellular S.A. has filed a standard notification form for major holdings with CSSF in Luxembourg on December 8, 2021. This action relates to the ANNEX A documentation, signifying changes in major shareholding. The filing reflects Millicom's commitment to transparency concerning its investors and regulatory compliance. As of the end of 2020, Millicom provided mobile services to approximately 55 million customers and had a cable footprint of over 12 million homes. For additional details, Millicom encourages stakeholders to review the attached documents.
Millicom announced that its CEO, Mauricio Ramos, will present at the Morgan Stanley European Technology, Media & Telecom Conference on November 18, 2021, at 7:15 PM Stockholm time (6:15 PM London, 1:15 PM Miami). The presentation will be available via a live webcast. Millicom, listed as TIGO, is a prominent service provider in Latin America and Africa, focused on high-speed broadband and digital services. It aims to innovate and enhance the Digital Lifestyle experience for its customers.
Millicom (Tigo) has successfully closed a significant transaction acquiring the remaining 45% equity interest in its joint venture businesses in Guatemala. This acquisition is a strategic move aimed at enhancing its market position in the region. The announcement was made on November 12, 2021, as the company continues to expand its footprint in Latin America and deliver high-speed broadband services to its customers. Millicom aims to leverage this acquisition to strengthen its operational capabilities and deliver improved services.
Millicom International Cellular has formally submitted a regulatory filing to the CSSF concerning major holdings. This filing is detailed in the ANNEX A: Standard form for notification of major holdings and involves funds flagged by Dodge & Cox up to 5.09%. As of now, this action reflects the company's ongoing commitment to transparency in its financial dealings.
Millicom has agreed to acquire the remaining 45% equity interest in Tigo Guatemala from its local partner for $2.2 billion, giving it full ownership. This acquisition is expected to enhance Millicom's cash flow and net income by approximately $200 million before financing costs. The transaction will be financed through bridge loans and a planned issuance of $1.5 billion in new long-term debt, alongside $750 million in equity via a rights offering expected in Q1 2022. Following this, Millicom's leverage is projected to decrease toward a target of 2.0x.
Millicom has announced the launch of the first Maestr@s Conectad@s Congress in Latin America, highlighting its commitment to transforming education through technology. Set for November 10-11, 2021, this congress will feature education experts from five countries discussing digital tools for educators. The initiative, part of Millicom's ESG strategy, has benefited over 250,000 teachers since 2020, aiming to enhance digital inclusion. Attendance is free with registration, and sessions will be available on YouTube and Facebook.
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